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UAL

earnings released: Thursday, July 24,2014 9:30 am CST/10:30 EST

If you missed the live webcast of the 2nd Q earnings conference call, it is now available for replay for a limited time and will later be archived.
A transcript is now available also.
Click this link for access to replay and transcript of call:
http://www.flyertalk.com/forum/23227909-post151.html

Current 2Q 2014 UAL guidance (4/24/14 investor update):

PRASM +1-3%
ASM "quarter, flat to +1%, full year +.5 to 1.5%"
CASM ex fuel, "quarter +1.25 to 2.25%, full year +1-2%"
Analyst guidance/actual 2Q 2013 results:

6/5/14 estimates:
1.86/share (using the 367M shares from last release $682M profit ex special items) [2q 2013 actual was $521M; $1.35/share ex specials; $469M GAAP]
Revenue 10.33B (3.3% growth) [2q 2013 was $10B]

Actual results:
- $789m GAAP Net income, $2.34/share. 7.6% margin
- $919m Net Income (excluding specials) or $1.04 per share. 8.9% margin
- $906m Operating Income (8.8% margin)
- $1.08B Operating Income excluding specials (10.4% margin)

- PRASM up 3.7%, yield up 3.0%; domestic yield +6.8%
- ASM -0.1%
- CASM-Ex fuel, profit sharing and special items down 0.2%
- Operating Revenue: $10.33B (up 3.3%); Passenger Revenue $8.98B( up3.6%)
- $1.5B in operating cash flow


Links to UA Press Releases / News Articles / etc.:

DAL
earnings released: Wednesday July 23 at 10 edt. Call link: https://event.on24.com/eventRegistra...epage=register

Actual results:

- $801m GAAP Net income, $0.94/diluted share. 7.5% margin
- $889m Net Income (excluding specials) or $1.04 per share. 8.4% margin
Delta's pre-tax income, ex special items was $1.4 billion.
- $1.58B Operating Income (14.9% margin)
- $1.61B Operating Income excluding specials (15.1% margin)

- PRASM up 5.7%, yield up 3.8%; domestic yield +7.4%
- ASM +3.2%
- CASM-Ex fuel, profit sharing and special items was FLAT
- Operating Revenue: $10.62B (up 9%); Passenger Revenue $9.27B ( up9%)
- Over $2.0B in operating cash flow and $1.5B in free cash, net debt $7.9B

3Q projections: Operating margin +15 to +17%, CASM +0 to 2%, "unit revenues" (I take to be PRASM - spin) +2-4% "driven by continued corporate and domestic strength, along with benefits from our revenue initiatives."

Links to DL Press Releases / News Articles / etc.:
http://news.delta.com/2014-07-23-Del...Quarter-Profit

AAL - earnings call: July 24, 2014 at 12:30 cdt
link to call: http://phx.corporate-ir.net/phoenix....estorrelations

Estimates/AAL guidance:

2Q PRASM +5-7% (updated estimate from 6/9/14 traffic release). YTD ASM +2.5%.

Actual results:

- $864m GAAP Net income
- $1.5B Net Income (excluding specials)
- $11.4B Revenue (+10.2%)

- Yeld +6.5% (17.34)
- PRASM up 5.9%, (14.57)
- ASM +3.1%
- CASM +3.9% (13.61)